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ORLANDO UTILITIES COMMISSION (FL) $140 MILLION BONDS 'AA+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Sept. 1 /PRNewswire/ -- Orlando Utilities Commission (OUC), Florida's $140 million water and electric revenue bonds series 1993 are rated 'AA+' by Fitch. The ratings on OUC's $467.8 million outstanding water and electric revenue bonds are affirmed at 'AA+' and the $791.5 million outstanding water and electric subordinated revenue bonds are affirmed at 'AA'. The credit trend is stable. The bonds are scheduled to sell through negotiation on Sept. 8 by a Prudential Securities Inc. syndicate.
 OUC benefits from a diverse generating resource mix, strong financials, and competitive rates. Historical debt service coverage on all bonds has exceeded 1.85 times and is projected to remain high in the future. Additional low-cost baseload capacity will be provided by the second coal-fired unit at the Stanton Energy Center, currently under construction and scheduled for commercial operation June 1, 1996. The use of existing site facilities will result in substantial savings. Electric rates are among the lowest in the state at 7.3 cents/kilowatt hour (kwh) and are expected to remain competitive, with only moderate increases forecast. The water system benefits from a high-quality supply source, the Floridan aquifer, and low rates. Additional credit support is provided by OUC's experienced, capable management team.
 Continued development and economic diversification of the Orlando area is under way; however, the economy remains significantly dependent on tourism and related businesses. In July, the president agreed with the Defense Base Closure and Realignment Commission's recommendation to close the Orlando Naval Training Center. While the center accounts for only a small percentage of OUC's total electric sales, the impact to the area economy remains difficult to assess.
 -0- 9/1/93
 /CONTACT: Susan M. Courtney, 212-908-0503, or Alan Spen, 212-908-0594, both of Fitch/


CO: Orlando Utilities Commission ST: Florida IN: UTI SU: RTG

PS -- NY036 -- 7924 09/01/93 11:32 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
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